BCC - Buccaneer Energy

[prawn_86]

KL4 flowing at 3 - 4 mmcfd once this and KL1 are online they will have about 10mmcfd. They are selling 5mmcfd at a price of 6.24/mcf and the rest on the spot market which being winter over there is 15 - 20 / mcf. KL4 will be online in 3 - 4 weeks

Still seems as though they are only just doing enough to pay off their debt and not actually build value for shareholders

 

[zzaaxxss3401]

Doesn't look good for any BCC holders - I'm a current holder.

Last market update was supposed to be delivered by (no later than) 15th March 2014. Release on Friday (14th) states:
"... The company’s Directors are not in a position to sign Buccaneer Energy’s 31 December 2013 Half Year Financial Statements, and therefore the company is unable to lodge them as per the ASX Listing Rules. The primary reasons for the delay in signing are the material uncertainty and confidential and incomplete negotiations that impact the ability of the Directors to sign the Directors’ Report and Directors’ Declaration...The company will make further announcements to the ASX as soon as it is able, but no later than 30 April 2014...".

Hopefully, they'll make an announcement well before June 30th, so I claim a (pretty certain) tax loss on this one. :bad: